Colabor Group (TSX: GCL) Warns It May Seek Creditor Protection After Refinancing Deadline Missed
Colabor Group Inc. failed to secure required refinancing commitments by the December 15 deadline and is considering creditor protection, warning operations could be “seriously affected.” Shares plunged over 60% to about $0.065 after the announcement. The company continues talks with lenders but says there is no guarantee of a long-term solution.
